After wowing the sharks of Shark Tank, Project Pollo made a huge impression on the US market. Created by passionate entrepreneurs aiming to revolutionize fast food and make it healthier, Project Pollo soared to success, making waves in the health-conscious world of fast food. However, what happened next? What effect did their appearance on Shark Tank have on their future trajectory? In our in-depth exploration of Project Pollo’s post-Shark Tank journey, we answer your questions and provide useful tips on how to make the most of your own Shark Tank experience.
Project Pollo Before the Shark Tank
Ah fast food, we all love it but hate the effects of consuming too much. But what is fast food? Fast food typically refers to any type of food that is served quickly after ordering and often pre-prepared. It can range from classic burgers and fries to salads and wraps. In recent years, many people have become concerned about fast food due to its high-fat content and lack of nutritional value.
Studies have suggested that regular consumption of fast food can lead to a wide array of health issues such as obesity, diabetes, cardiovascular disease, stroke, cancer, and even depression. Many experts point out that regular consumption of high-calorie meals has been linked with numerous health concerns in both children and adults alike. So while delicious, fast food can pose serious risks to your health if not consumed responsibly.
And Lucas Bradbury was well aware of this. Bradbury’s passion for vegan food was sparked by his desire to encourage his parents to adopt a healthier lifestyle. During the Covid-19 pandemic in 2020, he decided to test his concept of a vegan “chicken” restaurant. A friend who owned a bar offered Bradbury the opportunity to open a food truck at the bar, which allowed the bar to reopen under the early stages of reduced lockdown restrictions in Texas.
The food truck concept was a hit, and Bradbury opened his first brick-and-mortar store in a space previously occupied by another restaurant when things started to return to normal. He used this concept as proof of his idea’s potential, and since then, he has expanded to 12 brick-and-mortar stores, with plans to open four more by the end of 2022. Bradbury aims to grow his brand nationally and compete with fast-food giants like Chick-fil-A.
Bradbury’s focus is not just on food, but also on sustainability. He believes that vegan food products are more sustainable than meat, which is a notoriously environmentally wasteful industry. Project Pollo’s menu features plant-based burgers, chicken, mac n cheese, nachos, cookies, and vegan milkshakes that have received rave reviews from customers. Bradbury prefers to locate his restaurants in “repurposed” spaces that other fast-casual chains would overlook, and all packaging is compostable, including the water that comes in a box.
Additionally, he pays his employees twice the minimum wage and offers health benefits and paid vacation to all staff members. Bradbury reports that 20% of his customers are vegan, while the rest are curious about new food options to try out. The concept has been incredibly successful, with twelve locations throughout Texas opening in just two years. Bradbury has plans to open four more locations in 2022 and hopes to have 100 locations by the end of 2024.
His mission is to make plant-based foods more accessible to the general public, and he believes that plant-based protein is the future. He aims to be a leader in this space and believes that with his current success, he will be able to achieve his goal. However, Bradbury acknowledges that a Shark’s support could help him to reach his goal even faster.
In one of his interviews with the Dallas Morning News, Bradbury revealed that he asked the Sharks for $ 2.5 million for 5% of his business during his appearance on Shark Tank in September 2021. Since then, he believes that his valuation has only increased, making his initial offer a “bargain.” One of the Sharks even claimed that it was the best chicken sandwich they had ever tasted.
Despite his appearance on Shark Tank, Bradbury is not seeking a lifeline for his business. He wants to tell his story and share his vision for Project Pollo. He plans to expand nationally and is targeting Nevada and Arizona as his next territories. He has ambitious plans to open 100 stores in the next three years. So, let’s check out how it actually went for him! [1] [2] [3]
Project Pollo at the Shark Tank
Lucas Bradbury entered the Shark Tank with a clear message: he demands change. He created Project Pollo with the goal of making plant-based foods more accessible to everyone. He asked the Sharks for $ 2.5 million for a 5% stake in his company. The Sharks were surprised by his valuation, but they were eager to try the samples of his plant-based chicken sandwiches, which they ended up enjoying. Mr. Wonderful even declared it the best fake chicken he had ever tasted. Lucas revealed that the name “Project Pollo” was deliberate to attract customers to his stores.
In his first restaurant in Austin, he saw sales grow from $ 10,000 to $ 23,000 per week. Lucas plans to open one new location per month, and he has already raised $ 1.5 million at a $ 17.5 million valuation. The COVID-19 pandemic helped him secure great lease rates, which has allowed him to expand rapidly.
Before starting Project Pollo, Lucas gained experience in the restaurant industry as a delivery driver at Pizza Hut. He worked his way up to become a manager and later helped grow another vegan business. While the Sharks were impressed with Lucas’s experience and passion, they ultimately decided not to invest.
Mr. Wonderful didn’t agree with the valuation, Mark didn’t think the food was healthy enough, and Kevin Hart felt that Lucas was moving too fast. Barbara compared Project Pollo to a similar company that had gone bankrupt due to rapid expansion, and Lori was unsure about the potential risks of such fast growth.
Despite not receiving a deal from the Sharks, Lucas remains determined to continue growing Project Pollo and making plant-based foods accessible to more people. He has a clear vision for the future of his business and is willing to do whatever it takes to make it a reality. [2] [3]
Project Pollo After Shark Tank
So as we can see, sadly, Project Pollo did not receive an investment from the Sharks during its appearance on Shark Tank. Despite this setback, Lucas Bradbury continues to push forward with his business and has since achieved a great deal of success.
An appearance on Live TV alone is enough to bring a lot of attention and publicity to a business, and Project Pollo certainly benefited from that. Bradbury has been able to use the show’s popularity as leverage to gain more customers and expand his business exponentially.
Following the airing of the Shark Tank episode, Lucas Bradbury and his team have been working hard to expand the reach of Project Pollo. In August 2022, the company successfully opened five new brick-and-mortar stores, bringing the total to an impressive 17. In addition to this, they have also added two food trucks to their fleet, which allows them to reach even more customers with their tasty and innovative plant-based menu offerings.
Looking to expand their footprint even further, Project Pollo has big plans for the future. In the fall of 2022, they are planning a roadshow to visit universities in the northeast, with the aim of introducing their brand and delicious vegan fare to a wider audience.
Then, in 2023, they plan to start offering franchises in the northeast region where they don’t have company-owned stores. By doing so, they hope to increase their presence in this part of the country and give more people the opportunity to experience their unique plant-based cuisine.
But that’s not all – Project Pollo has even grander plans in mind. In 2023, they aim to expand their franchise offerings even further, with a goal of reaching new cities across the United States. Among the locations on their radar are Nashville, Atlanta, Tampa, and Miami, all of which have been identified as promising markets for their brand.
Their Facebook is also an integral part of their marketing strategy, as with 15k followers it helps them reach a wide audience with their message and promote special deals.
Through their unwavering commitment to offering delicious, affordable, and sustainable plant-based food, Project Pollo has captured the hearts and taste buds of many customers. With their continued expansion, it’s clear that their innovative approach to fast food is not only popular but is also paving the way for a more conscious and sustainable future in the food industry. [2] [3] [4] [5] [6]
How Much is Project Pollo’s Net Worth?
Based on the data available, it is difficult to estimate Project Pollo’s exact net worth. The company has not released any information regarding their financial status, however, based on their current trajectory, we can make an educated guess.
Since its appearance on Shark Tank, Project Pollo has seen a rapid rise in popularity and subsequent growth. All this has resulted in a significant increase in sales, with the company now offering its services to customers in several states across the United States. This has allowed them to expand their reach, as well as invest in new technologies and processes that help them provide fast and reliable service.
As for the net worth, it is estimated to be around the $ 5 million mark. While this number cannot be accurately confirmed without official statements from the company, we can assume that this estimate is close to reality based on its growth and current trajectory. [3]
FAQ
1. What is Project Pollo?
Project Pollo is a plant-based fast food chain that specializes in serving vegan versions of classic fast food dishes such as burgers, chicken sandwiches, nuggets, fries, and milkshakes. The company was founded by Lucas Bradbury in 2020 with the mission of making plant-based foods more accessible and affordable.
Project Pollo’s menu uses plant-based protein as a substitute for meat, and the chain has gained popularity for its tasty and affordable vegan options. Despite being a relatively new player in the fast food industry, Project Pollo has grown rapidly, with 22 locations in three states and plans for further expansion.
2. Did Project Pollo get a deal?
Unfortunately, Project Pollo did not get a deal from the Sharks. After giving an impressive presentation and answering all of the questions the sharks had for them, the Sharks ultimately decided against making an offer because they felt that their product was too risky and unproven.
However, despite not getting a deal on Shark Tank, founder Lucas Bradbury still walked away with exposure from the show that he was able to leverage in order to get the word out about his product. After the episode aired, Project Pollo received a lot of attention and investment from outside sources, which allowed them to continue developing their business and enjoy the ride!
3. Is Project Pollo still in business?
Yes, Project Pollo is still in business. As of May 2023, they have a total of 22 locations across Texas, Nevada, and Colorado. They also have two food trucks that serve their plant-based menu. Project Pollo has plans for further expansion, with a roadshow planned for fall 2022 to universities in the northeast and plans to offer franchises in the northeast in 2023.
4. How much is Project Pollo worth now?
As of May 2023, there is no official public information available on the current valuation of Project Pollo. The last known valuation was $ 17.5 million during their appearance on Shark Tank in September 2021. However, given their expansion plans and growth, it is likely that the valuation has increased since then.
5. What happened to plant-based chicken on Shark Tank?
Project Pollo, a plant-based chicken restaurant, appeared on Shark Tank in September 2021 and asked for $ 2.5 million for 5% of the business. Although the Sharks were impressed with the taste of the food, they were hesitant about the valuation and the rapid expansion plans of the company. Ultimately, none of the Sharks made a deal with Project Pollo. However, the restaurant has continued to expand and is still in business as of May 2023.
6. What Is Pollo’s Net Worth After Shark Tank?
The exact net worth of Pollo is difficult to accurately pinpoint due to the company’s private ownership and lack of public financial records. However, what we do know is that their sales grew rapidly after appearing on Shark Tank and they have been able to secure private funding from investors which has enabled them to expand their operations across the United States.
They have also continued to innovate their product offerings with new flavors and options that have kept customers coming back for more. The worth of the company is estimated to be around $ 5 million.
Useful Video: 12 Stores in 12 Months; This Plant-Based San Antonio Business Is Growing Drastically
Conclusion
Project Pollo’s journey has been an impressive one, starting as a food truck concept in 2020 to becoming a rapidly growing plant-based fast food chain. Despite not receiving a deal on Shark Tank in 2021, the company has continued to expand and now has a total of 22 locations across three states, with plans for further expansion in the northeast and beyond.
The company’s founder, Lucas Bradbury, has a vision to make plant-based foods more accessible and affordable, and his commitment to this mission has resonated with many consumers. With the rise of plant-based diets and increased awareness of the environmental impact of meat consumption, Project Pollo’s growth shows that there is a growing demand for more sustainable food options.
Today, Project Pollo is still going strong and is continuing to provide great-tasting food that meets all dietary needs. With its innovative idea of using upcycled chicken parts in its recipes, the company has revolutionized the way we look at sustainable eating by offering delicious food that is both nutritious and eco-friendly. Whether you’re a fan of Shark Tank or not, it’s clear that Project Pollo has made quite a splash in the food industry. We can only wait to see what comes next for this innovative company!
References:
- https://www.sharktankblog.com/project-pollo-restaurants/
- https://www.sharktankblog.com/business/project-pollo/
- https://bizzbucket.co/project-pollo-shark-tank-update/
- https://www.projectpollo.com/
- https://www.instagram.com/project_pollo/?hl=en
- https://www.facebook.com/projectpollo
